Quote:
Originally Posted by Unregistered
You forgot that he sold his HDB flat and bought the condo. He would have used the sales proceeds from the flat as downpayment for the condo. He would have bought his BTO flat from HDB cheap many years ago and could have paid off the HDB loan. So if he sold his flat say for $400k and bought the condo for $600k, his condo loan would only be $200k.
A $200k mortgage at 2.5% rate, 25 yrs means he pays only $900 pm, which he can share with his spouse ($450 pm each using their CPF). So, it could be a true case. |
I am the poster for #10338 post.
Assuming that he did have an
HDB flat prior to buying a condo in 2003, it would mean that he has to have bought it in 1997/98 to fulfil the MOP.
You can check the historical records. BTO did NOT exist in 1997/98. 1997/98 was the era of Mah Bow Tan. It was the time when
HDB new flats were priced very high and if one have sold at the 2003 through, one would have LOST money on renovation and interest rates.
Also our fake poster would have been aged 26 y.o. Not likely to have been married or bought
HDB as median age of marriage was about 28/29 for males then...